FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Press Releases / Read Press Release

Print

Renasant Business Credit Funds $3MM Revolver to Distributor

June 20, 2014, 09:12 AM
Filed Under: Distribution


Renasant Business Credit announed the funding of a $3 million asset-based revolving line of credit for an electrical and industrial wholesale distribution supply company based in Georgia.  The borrower was able to significantly increase their loan availability, lower their all-in cost of working capital and reduce their collateral reporting requirements as part of the new lending relationship. 

“This kind of value-added, relationship lending is the target market for Renasant Business Credit,” said Mike Knuckles, the EVP and Division Manager. He added, “The borrower will also enjoy a much more cohesive and streamlined treasury management process as a result of their new banking relationship with Renasant.”

Renasant Business Credit, the Atlanta-based lending division of Renasant Bank, provides asset-based lines of credit from $2 million to 10 million (and more) to lower and mid-market companies throughout the Southeast.

Renasant Corporation, a 110-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $5.9 billion and operates over 120 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.







Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.